I'm speaking from my PoV, so these might differ from person to person.
Pros
Combat is snappy and responsive. Pretty top-tier as arena fighters go
Character are fun to play and I can't think of any that are terrible
Entire roster is unlocked after 15-20 minutes. You get everyone once you pick a team in-story. (PS Pick Team Alpha).
Model-quality aside (which is very debatable), game looks gorgeous and the effects are top-tier
Multiple CaC fighting styles (Dragon Ball, Naruto, One Piece and Kenshin)
Everything generally has a satisfying impact to it. No limp dick sound effects like in DB Xenoverse.
Fairly easy to pick up, though that's because it's an arena fighter.
Cons